In a new report, issued by Combs, the state estimates that it could lose some $466 million in tax revenue by 2010 and up to $5.4 billion by the year 2060 due to water shortages.
The report expects water demand to go up by 27 percent over the next fifty years; with no new sources of water to exploit, Combs also anticipates Texas’ agriculture will suffer. Already, droughts cost the state’s agriculture sector some one to four billion annually.
The report, Liquid Assets: The State of Texas’ Water Resources proposes a dedicated funding source for water development programs to help aid and prevent future loses.
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Circle of Blue’s east coast correspondent based in New York. He specializes on water conflict and the water-food-energy nexus. He previously worked as a political risk analyst covering equatorial Africa’s energy sector, and sustainable development in sub-Saharan Africa. Contact: Cody.Pope@circleofblue.org